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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Protecting Consumers from Unreasonable Credit Rates Act of 2014

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Truth in Lending Act to establish a national usury rate for consumer credit transactions.

Actions Overview (1)

07/17/2014Introduced in House

All Actions (3)

Date Chamber
09/18/2014SenateCommittee on Banking, Housing, and Urban Affairs. Hearings held.
Action By: Committee on Banking, Housing, and Urban Affairs
07/17/2014HouseReferred to the House Committee on Financial Services.
07/17/2014HouseIntroduced in House

Cosponsors (49)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Clark, Katherine M. [D-MA-5]* 07/17/2014
Rep. Clay, Wm. Lacy [D-MO-1]* 07/17/2014
Rep. Clyburn, James E. [D-SC-6]* 07/17/2014
Rep. Cummings, Elijah E. [D-MD-7]* 07/17/2014
Rep. Davis, Danny K. [D-IL-7]* 07/17/2014
Rep. Doggett, Lloyd [D-TX-35]* 07/17/2014
Rep. Edwards, Donna F. [D-MD-4]* 07/17/2014
Rep. Ellison, Keith [D-MN-5]* 07/17/2014
Rep. Fattah, Chaka [D-PA-2]* 07/17/2014
Rep. Jackson Lee, Sheila [D-TX-18]* 07/17/2014
Rep. Johnson, Eddie Bernice [D-TX-30]* 07/17/2014
Rep. Miller, George [D-CA-11]* 07/17/2014
Rep. Pingree, Chellie [D-ME-1]* 07/17/2014
Rep. Rangel, Charles B. [D-NY-13]* 07/17/2014
Rep. Tsongas, Niki [D-MA-3]* 07/17/2014
Rep. Lujan Grisham, Michelle [D-NM-1]* 07/17/2014
Rep. Cohen, Steve [D-TN-9]* 07/17/2014
Rep. Takano, Mark [D-CA-41] 07/22/2014
Rep. Tonko, Paul [D-NY-20] 07/22/2014
Rep. DeFazio, Peter A. [D-OR-4] 07/24/2014
Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] 07/29/2014
Rep. Cicilline, David N. [D-RI-1] 07/30/2014
Rep. Michaud, Michael H. [D-ME-2] 07/30/2014
Rep. Conyers, John, Jr. [D-MI-13] 07/30/2014
Rep. Norton, Eleanor Holmes [D-DC-At Large] 07/30/2014
Rep. Schwartz, Allyson Y. [D-PA-13] 07/30/2014
Rep. Serrano, Jose E. [D-NY-15] 09/17/2014
Rep. Lewis, John [D-GA-5] 09/17/2014
Rep. Lowenthal, Alan S. [D-CA-47] 09/17/2014
Rep. Pocan, Mark [D-WI-2] 09/17/2014
Rep. Slaughter, Louise McIntosh [D-NY-25] 09/17/2014
Rep. Grijalva, Raul M. [D-AZ-3] 09/17/2014
Rep. Lofgren, Zoe [D-CA-19] 09/18/2014
Rep. Gutierrez, Luis V. [D-IL-4] 09/18/2014
Rep. Lynch, Stephen F. [D-MA-8] 09/18/2014
Rep. Welch, Peter [D-VT-At Large] 09/18/2014
Rep. Kind, Ron [D-WI-3] 09/18/2014
Rep. Price, David E. [D-NC-4] 09/18/2014
Rep. Butterfield, G. K. [D-NC-1] 11/12/2014
Rep. Capuano, Michael E. [D-MA-7] 11/12/2014
Rep. Esty, Elizabeth H. [D-CT-5] 11/12/2014
Rep. Kaptur, Marcy [D-OH-9] 11/12/2014
Rep. Schakowsky, Janice D. [D-IL-9] 11/12/2014
Rep. Swalwell, Eric [D-CA-15] 11/12/2014
Rep. Kelly, Robin L. [D-IL-2] 11/12/2014
Rep. Eshoo, Anna G. [D-CA-18] 11/12/2014
Rep. Yarmuth, John A. [D-KY-3] 11/12/2014
Rep. Langevin, James R. [D-RI-2] 11/19/2014
Rep. Van Hollen, Chris [D-MD-8] 12/09/2014

Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services07/17/2014 Referred to
Senate Banking, Housing, and Urban Affairs09/18/2014 Hearings by

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Latest Summary (1)

There is one summary for H.R.5130. View summaries

Shown Here:
Introduced in House (07/17/2014)

Protecting Consumers from Unreasonable Credit Rates Act of 2014 - Amends the Truth in Lending Act to prohibit a creditor from extending credit to a consumer under an open end consumer credit plan (credit card) for which the fee and interest rate exceeds 36%.

Sets forth criminal penalties for violations of this Act. Empowers state Attorneys General to enforce this Act.

Revises requirements for a periodic statement for each billing cycle with respect to where the total finance charge exceeds 50 cents for a monthly or longer billing cycle, or the pro rata part of 50 cents for a billing cycle shorter than monthly. Requires inclusion of the fee and interest rate, displayed as "FAIR," instead of the total finance charge expressed as an annual percentage rate (APR).